Firefall developer secures $23 million in funding

Bright skies might be ahead for Red 5 Studios: the Firefall developer announced today that it secured $23 million in additional funding. Red 5 said that it entered into share purchase agreements for the funding from Shanghai Oriental Pearl Culture Development Co. and shareholders.

Red 5 Acting CEO James Macauley pointed to the influx of cash as a sign that the battle-worn company is moving forward: "This additional round of funding will offer us the means to execute on our plan for successfully launching Firefall in 2014. This is the year Firefall takes flight. The entire Red 5 tribe is focused on creating top quality content that will take Firefall to the next level and we are excited for this next stage of development."

The studio has plans to create a new story campaign for Firefall, take the fight to the Chosen, and reveal some of the burning secrets that have been in the game.